Coinbase Opens NEAR, AERO, VET, VTHO, PYUSD Trading
Coinbase cryptocurrency exchange platform has expanded its offerings for New York-based customers by adding five new digital assets to the list of available cryptocurrencies. This expansion enables New Yorkers to access and trade NEAR, AERO, VET, VTHO, and PYUSD (ERC-20) on the crypto exchange website and its mobile applications.
Previous Expansions and Market Reactions
In a recent announcement by Coinbase, NEAR Protocol (NEAR), Aero (AERO), VeChain (VET), VeThor Token (VTHO), and PayPal USD (PYUSD) are now available for trading, buying, selling, converting, sending, receiving or storing by the users in New York.
This can be seen as a huge expansion to the list of digital assets that are available in the state, which is an indication of the crypto exchange’s efforts to increase its presence in one of the most regulated markets for cryptocurrencies in the US.
The crypto exchange had also added five other digital assets to its list of offerings for New York residents in June. Some of the assets are Render Token (RNDR), Hedera (HBAR), Akash Network (AKT), Helium (HNT), and Aptos (APT). The decision to streamline trading offerings for these cryptocurrencies aimed to enhance liquidity and facilitate the inflow of capital into their respective ecosystems.
This further growth of assets for trading in New York is consistent with the overall strategy of the crypto exchange to bring more diversity to the trading market. Thus, by providing access to these assets in New York, Coinbase will inspire more engagement of retail and institutional investors.
In the past, the addition of new assets on the exchange has always boosted their market performance. Other listed tokens like XRP and the meme coin Bonk also witnessed significant increase in their prices after being made available for New York residents. However, as for the market’s response to the latest listings, it remains to be seen, however, these new assets are likely to attract a lot of attention.
NEAR Protocol, AERO, VET, VTHO Price Trend
Despite the Coinbase announcement, the digital currencies did not experience much price reaction. For instance, NEAR Protocol (NEAR) price dipped by 1.69% to $3.94, while Aerodrome Finance (AERO) followed suit with a 2.70% plunge to $0.639.
However, VeChain (VET) and VeThor Token (VTHO) experienced a minor recovery, with the price surging by 0.37% and 1.17%, respectively, to $0.02285 and $0.002023. Concurrently, PayPal USD (PYUSD) was not left behind, with the price at $1.00, a 0.05% surge.
Conclusion
In conclusion, Coinbase’s expansion of its offerings in New York is a significant development in the cryptocurrency market. The addition of five new digital assets to the list of available cryptocurrencies will provide more options for traders and investors in the state. While the market’s response to the latest listings is yet to be seen, these new assets are likely to attract a lot of attention.
FAQs
Q: What are the five new digital assets added to Coinbase’s offerings in New York?
A: The five new digital assets added to Coinbase’s offerings in New York are NEAR Protocol (NEAR), Aero (AERO), VeChain (VET), VeThor Token (VTHO), and PayPal USD (PYUSD).
Q: What is the significance of Coinbase’s expansion in New York?
A: Coinbase’s expansion in New York is significant because it increases the availability of digital assets in one of the most regulated markets for cryptocurrencies in the US.
Q: How will Coinbase’s expansion affect the market?
A: Coinbase’s expansion is likely to attract a lot of attention and may boost the market performance of the newly listed assets.
Q: What is the current price trend of the newly listed assets?
A: The current price trend of the newly listed assets is mixed, with NEAR Protocol (NEAR) and Aerodrome Finance (AERO) experiencing a decline, while VeChain (VET) and VeThor Token (VTHO) experienced a minor recovery.
